Coach Inc. (COH) Sets New 52-Week High at $43.60
Coach Inc. (NYSE:COH)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $43.60 and last traded at $43.49, with a volume of 2,824,890 shares changing hands. The stock had previously closed at $42.30.
COH has been the topic of a number of recent research reports. Zacks Investment Research raised shares of Coach from a “sell” rating to a “hold” rating in a research note on Monday, April 18th. Cowen and Company reduced their price objective on shares of Coach from $55.00 to $48.00 and set a “market perform” rating on the stock in a research note on Monday, March 28th. Citigroup Inc. reaffirmed a “neutral” rating on shares of Coach in a research note on Monday, May 16th. Vetr raised shares of Coach from a “strong sell” rating to a “hold” rating and set a $39.55 price objective on the stock in a research note on Wednesday, June 1st. Finally, KeyCorp reaffirmed a “buy” rating on shares of Coach in a research note on Tuesday, May 3rd. Three analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and sixteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $41.72.
The stock has a 50-day moving average price of $39.93 and a 200-day moving average price of $38.18. The company has a market capitalization of $12.03 billion and a price-to-earnings ratio of 30.87.
Coach (NYSE:COH) last posted its quarterly earnings data on Tuesday, April 26th. The luxury accessories retailer reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.02 billion. The business’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, equities analysts anticipate that Coach Inc. will post $1.93 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 5th. Investors of record on Friday, June 3rd were issued a dividend of $0.3375 per share. The ex-dividend date was Wednesday, June 1st. This represents a $1.35 dividend on an annualized basis and a yield of 3.12%.
In related news, Director Susan J. Kropf sold 5,330 shares of the firm’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $40.81, for a total transaction of $217,517.30. Following the completion of the sale, the director now owns 37,845 shares in the company, valued at $1,544,454.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jide James Zeitlin sold 3,206 shares of the firm’s stock in a transaction dated Tuesday, June 14th. The stock was sold at an average price of $37.32, for a total transaction of $119,647.92. Following the sale, the director now owns 57,717 shares of the company’s stock, valued at approximately $2,153,998.44. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Royce & Associates LLC bought a new stake in Coach during the fourth quarter worth about $1,168,000. Andra AP fonden increased its position in Coach by 7.2% in the fourth quarter. Andra AP fonden now owns 47,600 shares of the luxury accessories retailer’s stock valued at $1,558,000 after buying an additional 3,200 shares during the last quarter. Suntrust Banks Inc. increased its position in Coach by 2.9% in the fourth quarter. Suntrust Banks Inc. now owns 58,998 shares of the luxury accessories retailer’s stock valued at $1,928,000 after buying an additional 1,636 shares during the last quarter. Aberdeen Asset Management PLC UK increased its position in Coach by 7.1% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 64,977 shares of the luxury accessories retailer’s stock valued at $1,959,000 after buying an additional 4,290 shares during the last quarter. Finally, Eaton Vance Management increased its position in Coach by 38.8% in the fourth quarter. Eaton Vance Management now owns 60,018 shares of the luxury accessories retailer’s stock valued at $1,964,000 after buying an additional 16,771 shares during the last quarter.
Coach, Inc (Coach) is a design house of modern luxury accessories and lifestyle collections. The Company operates through three segments: North America, which includes sales to North American consumers through Coach-branded stores (including the Internet) and sales to wholesale customers; International segment, which includes sales to consumers through Coach-branded stores (including the Internet) and concession shop-in-shops in Japan and mainland China, Coach-operated stores and concession shop-in-shops in Hong Kong, Macau, Singapore, Taiwan, Malaysia, South Korea, the United Kingdom, France, Ireland, Spain, Portugal, Germany, Italy, Belgium and the Netherlands, as well as sales to wholesale customers and distributors in approximately 45 countries, and Other segment, which consists of sales and expenses generated by the Coach brand in other ancillary channels, including licensing and disposition.
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